Northern Trust Corp Has $224,000 Holdings in Sunoco LP (NYSE:SUN)

Northern Trust Corp lessened its position in shares of Sunoco LP (NYSE:SUN) by 6.2% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,360 shares of the oil and gas company’s stock after selling 287 shares during the period. Northern Trust Corp’s holdings in Sunoco were worth $224,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Atria Wealth Solutions Inc. bought a new position in shares of Sunoco during the 4th quarter worth approximately $256,000. Virtu Financial LLC acquired a new position in shares of Sunoco during the 4th quarter valued at $239,000. Icon Advisers Inc. Co. bought a new position in Sunoco during the fourth quarter worth $1,852,000. Van ECK Associates Corp grew its holdings in Sunoco by 41.1% in the fourth quarter. Van ECK Associates Corp now owns 30,131 shares of the oil and gas company’s stock worth $1,550,000 after purchasing an additional 8,782 shares during the period. Finally, Raymond James Financial Inc. acquired a new stake in Sunoco in the fourth quarter worth $17,739,000. Institutional investors and hedge funds own 24.29% of the company’s stock.

Sunoco Stock Down 0.5%

Shares of NYSE SUN opened at $53.69 on Tuesday. The company has a debt-to-equity ratio of 1.84, a current ratio of 1.27 and a quick ratio of 0.66. The company has a 50-day moving average price of $55.98 and a 200-day moving average price of $55.55. The stock has a market capitalization of $8.20 billion, a P/E ratio of 8.13 and a beta of 0.67. Sunoco LP has a 1 year low of $48.00 and a 1 year high of $59.88.

Sunoco (NYSE:SUN) last released its quarterly earnings results on Tuesday, May 6th. The oil and gas company reported $1.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.69 by ($0.48). The company had revenue of $5.18 billion for the quarter, compared to analyst estimates of $5.58 billion. Sunoco had a net margin of 3.85% and a return on equity of 22.52%. Sunoco’s revenue for the quarter was down 5.8% on a year-over-year basis. During the same quarter last year, the firm posted $2.26 EPS. On average, equities research analysts forecast that Sunoco LP will post 10.65 EPS for the current fiscal year.

Sunoco Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 20th. Shareholders of record on Friday, May 9th were issued a dividend of $0.8976 per share. This represents a $3.59 dividend on an annualized basis and a yield of 6.69%. This is an increase from Sunoco’s previous quarterly dividend of $0.89. The ex-dividend date was Friday, May 9th. Sunoco’s payout ratio is currently 64.68%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Barclays dropped their price objective on shares of Sunoco from $62.00 to $61.00 and set an “overweight” rating on the stock in a report on Friday, March 28th. Mizuho upped their price target on Sunoco from $66.00 to $68.00 and gave the stock an “outperform” rating in a research note on Thursday, April 3rd. Finally, JPMorgan Chase & Co. increased their price target on Sunoco from $63.00 to $66.00 and gave the stock an “overweight” rating in a report on Thursday, April 24th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $64.33.

Sunoco Company Profile

Sunoco LP, together with its subsidiaries, distributes and retails motor fuels in the United States. It operates through two segments: Fuel Distribution and Marketing, and All Other. The Fuel Distribution and Marketing segment purchases motor fuel, as well as other petroleum products, such as propane and lubricating oil from independent refiners and oil companies and supplies it to company-operated retail stores, independently operated commission agents, and retail stores, as well as other commercial customers, including unbranded retail stores, other fuel distributors, school districts, municipalities, and other industrial customers.